NFC application revenues to reach $10.6bn in 2012

March 08, 2012 //
By Jean-Pierre Joosting

Visiongain believes that global NFC application revenue will reach $10.6bn in 2012, and that in 2012 NFC is poised for rapid growth. Recent developments analysed in the market researcher's latest report, "Monetising NFC: Challenges and Opportunities 2012-2017" have created a fertile marketplace ready to accept NFC innovations in every sector.

Android, the leading Smartphone OS, has full NFC compatibility which Google are using to push their m-wallet service. New entrants to the market include android device makers such as Samsung, a major player in the Smartphone space. Together these factors and other developments signal that NFC adoption rates are set to soar.

Regions such as Korea and Japan have seen higher NFC adoption rates than other areas, and now exemplify an advanced prototype of NFC's usability offering evidence of the technologies benefits as well as a rudimentary roadmap for underdeveloped nations. One major area that had, up until 2012, been vastly underdeveloped in terms of NFC was North America. However, this area will see rapid uptake of NFC services as Visa roll out contactless payments over the forecast period. Our forecasts see huge revenue potential from NFC applications and a huge array of opportunities for all ecosystem members.

One of NFC's most powerful drivers is the technology's adaptability; it has the potential to transform diverse industries ranging from healthcare to automotive. In this report we detail how NFC can save on OpEx, increase user satisfaction and speed up transaction time. But who stands to benefit from the technologies success? In this report we forecast the key regions for growth, project which applications will be most popular in 2017 and also offer a strategy for successful m-wallet and other NFC based services.